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S&P Corrects By Lowering Rating On Claris III's Series 03/2006 Repack Notes Mar 12 Product Image

S&P Corrects By Lowering Rating On Claris III's Series 03/2006 Repack Notes Mar 12

  • Published: March 2012
  • Standard & Poors

Abstract
OVERVIEW In January 2012, we lowered to 'A' our rating on Claris III series 03/2006's underlying collateral. We have today lowered to 'A (sf)' our rating on the series, to reflect its weak link to the rating on the collateral. Today's rating action also corrects an administrative error in May 2009, when we took rating action on the collateral but did not reflect this in our rating on the series. Claris III Series 2006-3 is a single asset repack transaction, with underlying collateral notes issued by Credit du Nord. LONDON (Standard & Poor's) March 2, 2012--Standard & Poor's Ratings Services today lowered to 'A (sf)' from 'AA- (sf)' its credit rating on Claris III Ltd.' s series 03/2006 repack notes....

Companies mentioned in this report are:
- Claris III Ltd.

Action: Downgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the READ MORE >

- Claris III Ltd.

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